Where is everyone in Placer county going? Total volume of homes sold in September has almost doubled as compared to last September going from 245 homes sold to 455 sold in September 2008.

Foreclosures sold have more than quadrupled and so have short sales. What’s surprising is that almost the same number of non-distressed properties have also sold, which is not seen as often. Non-distressed sales seem to have an inverse relationship to foreclosures and short sales. Placer county seems to prove that theory wrong. Distressed properties now make up more than half the real estate sales in Placer county - 55% of homes sold in September were either foreclosures or short sales.

Maybe everyone just waited until September of this year to buy. With the average sales price falling 28.4% over last September who can blame them? The average sales price is now $348,455 bringing the average price per square foot to $161.57

Inventory in Placer county sits at 7.2 months based on the last 12 months of sales and 5.8 months based on the last 6 months of sales.